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During the last decade, the value of the Canadian dollar has experienced a decline, which has influenced Canada`s economic status at home and around the globe. This situation has created several questions and few answers to why this has occurred and continues to be observed. ?A decline in the Canadian dollar from about 86 cents US in 1990 to about 63 cents US today, a decline of more than 25 percent. In fact, in the last decade, one Canadian dollar bought in terms of foreign currency has decreased overwhelmingly. For example, against the British pound, the Canadian dollar has lost about 9 percent of its value over the last ten years. In November 2001, the Canadian dollar hit an all time low of US $0.623. But, this was not an unforeseen development. For the last ten years, the lonnie has been spiraling downwards. After reaching a peak of US $0.8934 in 1991, the Canadian dollar has fallen to US $0.73 in 1996, US $0.6211 in 1998 and finally below US $0.63 in late 2001. The low level of the Canadian dollar during the last decade is evident; however, the more vital realization is what measures must be taken to raise the value of the Canadian economy to preserve an optimistic future for Canada. Read more…

Commercial National and City Bank of Commerce of Columbus, Ohio merged to form City National Bank and Trust in 1929. John H. McCoy became president in 1935, starting a family dynasty. His son John G. McCoy took over for him in 1958. In the 1960’s, City National hired a comedienne, Phyllis Diller to do its radio and TV commercials. The commercials launched Diller’s career and made the bank famous. In 1966, City National offered the first Visa credit Card outside of California. It also created the first drive-up bank, and was one of the first banks to use ATM’s. Later, McCoy formed a holding company called First Bank Group of Ohio, which became Banc One in 1979. As soon as interstate barriers collapsed, the bank moved into India, Kentucky, Michigan, and Wisconsin.

John B. McCoy, third generation of the banking family, became CEO in 1984. During his reign, the bank acquired over 100 banks in the Midwest. The bank also bought over twenty failed banks and expanded into Texas in 1989. In 1991, the bank moved into Illinois. The bank entered a development alliance with Banco Nacional de Mexico in 1992. The number three bank in Louisiana, Premier Bancorp, was purchased in 1996. A year later, it added Liberty Bancorp, based in Oklahoma City. With the purchase of First USA in 1997, Banc One became the third largest credit card issuer behind Citicorp and MBNA. Read more…

When people think of wealthy people today, most people think of Bill Gates or Sam Walton. However, there were people in the past whose wealth would marvel that of the richest people today. The men responsible for the creation of the word millionaire lived back in the late 19th and early 20th centuries. These early businessmen and entrepreneurs were some of the richest and most powerful people of their time. In fact, their wealth is equivalent to if not more than some of today’s richest people. Two of these men were “Commodore” Cornelius Vanderbilt and John Pierpont Morgan. Many people believed that these men were concerned with nothing but their money and wealth; however, nearing the end of their lives this was anything but true. Were these men robber barons or Robin Hoods? While comparing and contrasting these two men, hopefully one will be able to see that in the end they were both some-what like Robin Hoods.

To begin with, Cornelius Vanderbilt was born on May 27, 1794 in New York to Cornelius and Phebe Vanderbilt (Vanderbilt). His family was relatively poor and could not afford very many luxury or treats. Consequently, he did not have the opportunity to go to school and, instead, began helping his father make money to support the family. When he was almost 16 years of age, he borrowed $100.00 from his mother and father and bought a small sailing vessel. With this ship, he started a passenger and freight service . After his first year in business, he raised enough money to pay back the $100.00 that he borrowed along with an additional $1000 to his parents (St. Francis). From this point on, he started building what was to become one of the most prominent sailing businesses in the United States (Vanderbilt). Read more…

Ratio analysis is deemed to be important when assessing the performance of a firm and can be used as a tool to predict company failure or success. However ratio analysis shouldn’t be the only provider of information it should be supplemented by other information. E.g. external factors and non-financial information should be considered also past records need to be considered to look at the longer-term picture of the company. But past records are merely a guide and don’t always illustrate future performance. Furthermore the trends of the market need to be analysed.

However this information is not all available, this report will consider four main areas of ratio analysis which are: profitability, efficiency, liquidity and investment to come a concise conclusion on whether or not an investment in Longway P.L.C would prove beneficial. Read more…

Communications, essential human ability, serves as the concrete holding societies together. Throughout the history of mankind a variety of communications types has emerged. Some of those channels of communication, like television or even writing, have become something that surpassed our understanding of an informational channel, something that has inherent value above mere information transmission. Internet, already worshipped as new mean of communication, overcome this oversimplifying status by begetting a new and unexpected value, Internet Art.

Since the date of its creation in 1980’s, Internet was viewed as simply a new way of transmitting information. The very simplest definition of Internet defines it as a way of sharing available information in electronic format. Perhaps, Internet has modified only design of information in the way meaningful to interactive nature of modern PCs. The majority of sites offer data and information that otherwise can be found in non-electronic format. The sites distributing and educating in art merely reproduce and transform traditional art for the electronic audience. Read more…

It is mentioned in the application that the key performance measures are defined as per PPA and are reviewed regularly. However a systematic approach with the help of which senior leaders of the division review organizational performance and organizational capabilities is not evident. Also, a systematic approach to translate review findings into opportunities for improvement and innovation is not evident.

The application mentions that the impact on the society of the product and operations of the division is considered during design stage of project/plant. Also, the emission level of flue gases and discharge of liquid effluents are monitored daily to keep them within control. The division has achieved zero discharge of liquid effluents.

Although the application mentions examples of some of the activities carried out by division for community support, a systematic approach for active participation by senior leaders and employees in community support activities in not evident. Read more…

Over the years business has crossed boundaries, spanned over land and ocean, and generally changed the world. As business continues to evolve more broadly on a worldwide level, an introduction of new products, new jobs, and new ways of operating in the business world has occurred. This evolution does not occur without certain complexities developing, which then fuels a search for more effective ways to be successful worldwide. A major impact is in the accounting policies and methods used by companies operating international subsidiaries. Through a better understanding of international accounting and its affect on a company headquartered in two different countries, these troublesome issues with respect to becoming successful worldwide becomes clear.

Accounting encounters more challenges when entering the international arena. Foreign subsidiaries introduce issues of translation, transaction, and exchange rates. Through exploration of the Federal Accounting Standard 52: Foreign Currency Translation, a better understanding of these three issues becomes apparent. Translation deals with taking one currency such as the U.S. dollar, and translating it into another currency such as the British Pound, for reporting purposes. This represents one of the main difficulties in international accounting – preparing consolidated financial statements when a company has foreign subsidiaries that are included. FAS 52 explains foreign currency translation as, “The process of expressing in the reporting currency of the enterprise those amounts that are denominated or measured in a different currency” . Read more…

Deciding to transfer to New York University was an easy decision. Perhaps the easiest decision there was to make in terms of choosing an institution to continue my education. The level of prestige the institute holds makes it stand out above others, as well as its prime location in the heart of Manhattan. The internship possibilities within New York City are endless, and I feel that is a key factor in preparing for the real world, and gaining incredible experience to become one of the elite in the field of business.

There are many factors that make NYU a great choice in continuing my education. For one is the city life. I have always loved being in the city, and it is such a change of pace compared to my suburban life. The city’s diversity, its museums, and theater would educate me and help myself become more educated in the field of arts. With those small reasons aside, I feel NYU will open up windows of opportunity later down the road. With alumni holding high positions at firms, as well as major corporations it opens up recruitment for job placement, and that is important in starting a career, as does the level of prestige an NYU degree would have. One of the most interesting aspects of NYU is the study abroad program, and its destinations. If I had the chance, I would study abroad in Florence, because it is such a beautiful destination, so rich in history, and culture. It would be an incredible, once in a lifetime opportunity to see what the world has to offer. My current college does not provide me with any of this. Read more…

In the medieval period, money was not very important and the only indication of how wealthy some one was base in how much land some one had. Land was not something that did not circulate the way it does today. After the collapsed of the Roman Empire, the biggest landowners were the church follow by the landed nobility. The monarchs some times own a plot of land that rented out to the state. Between 476-1000 Europe was isolated in a way from the rest of the trading world. During the medieval period, there was no direct external trade.

Money was not important during this period and it was not central part of the economy. Instead, everything that was produce was mostly use for local consumption, but that was about to change. After 1250, the entrepreneurs began to recognize that there were certain recourses that were needed by other localities. They realized that they could produce and explode these goods.Italians for example began to produce salt. England started to explode coal. Commodity production increase in volume in Europe. As the trade with the orient grew the importance of money grew too. If the money became more important the merchants, money handlers, entrepreneurs became more important in society. Because of this, the interaction of this different sectors increase and became more independent. The coming together of these sectors gave birth to the Bourgeois (1200-1300). In the 1400, a new time of money handle ling institutions emerged. Read more…

Before you can buy shares in a company you must first understand what they are and how they work. When you buy shares in a company, you are doing exactly that, purchasing your very own part in a business, even though its only a small part, the results can be rewarding. When the business makes a profit, it reflects in the share price and you make a profit as well.

Managed funds are on offer for people who are not entirely certain about going head down into the share market as in individual. Managed funds are offered by a number of stock broking companies in a wide array of values, starting at $1,000 and going right up into the hundreds of thousands.
Managed funds give the investor the opportunity to take advantage of the benefits in the stock market, without all the hassle of knowing what to buy or sell, and when to do it.

Of course this kind of luxury comes at a price, there are a few upfront fees to be paid, but generally beginners are treated pretty well. A lot of brokers are offering some kind of security attached to their managed funds, something along the lines of, increase your profit by 25 percent in the 1st 5 years or get your money back. Read more…